What is Sol Gel Tech's earnings per share (EPS)?

Sol Gel Tech (SLGL) reported diluted earnings per share of $-2.19 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sol Gel Tech Financials

SLGL

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Sol Gel Tech (SLGL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SLGL FY2025 2026-04-22

Cash generation turned positive before profitability, exposing a low-capex development model financed by existing liquidity rather than heavy leverage.

In FY2025, operating cash flow turned positive at $322K even though the company still posted a net loss of -$6.1M, so reported earnings looked weaker than near-term cash generation. That matters because R&D spending still exceeded revenue, yet cash fell to $11.0M mainly because an investing outflow of -$8.6M absorbed the operating improvement.

This is still a development-stage cost structure: FY2025 research and development was $22.8M against revenue of $19.4M, which means commercialization receipts have not yet replaced the need to fund science. The offset is very low capital intensity, with capex of only $47K, so cash needs come far more from research than from maintaining physical assets.

The balance sheet remains liquid: cash of $11.0M still exceeded total liabilities of $7.1M. Short-term coverage also stayed comfortable at a current ratio of 4.4x, but equity kept shrinking from $28.9M in FY2024 to $22.8M in FY2025, showing that better cash conversion has not yet reversed the cumulative erosion from prior losses.

Financial Health Signals

Financial Profile 47/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Sol Gel Tech's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Sol Gel Tech has an operating margin of -38.9%, meaning the company retains $-39 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -104.1% the prior year.

Growth

100

Sol Gel Tech's revenue surged 68.0% year-over-year to $19.4M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Sol Gel Tech carries a low D/E ratio of 0.31, meaning only $0.31 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.37, Sol Gel Tech holds $4.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 87/100.

Cash Flow

Sol Gel Tech's free cash flow margin of 1.4% results in a low score of 0/100. Capital expenditures of $47K absorb a large share of operating cash flow.

Returns

Sol Gel Tech generates a -26.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -36.7% the prior year.

Piotroski F-Score Neutral

5/9

Sol Gel Tech passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.05x

For every $1 of reported earnings, Sol Gel Tech generates $-0.05 in operating cash flow ($322K OCF vs -$6.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$19.4M

YoY+68.0%

5Y CAGR+17.2%

Sol Gel Tech generated $19.4M in revenue in fiscal year 2025. This represents an increase of 68.0% from the prior year.

EBITDA

-$7.4M

YoY+36.9%

Sol Gel Tech's EBITDA was -$7.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 36.9% from the prior year.

Net Income

-$6.1M

YoY+42.1%

Sol Gel Tech reported -$6.1M in net income in fiscal year 2025. This represents an increase of 42.1% from the prior year.

EPS (Diluted)

$-2.19

Sol Gel Tech earned $-2.19 per diluted share (EPS) in fiscal year 2025. This represents an increase of 42.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$275K

YoY+102.0%

Sol Gel Tech generated $275K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 102.0% from the prior year.

Cash & Debt

$11.0M

YoY-43.4%

5Y CAGR+9.1%

10Y CAGR+6.5%

Sol Gel Tech held $11.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

Sol Gel Tech had 3M shares outstanding in fiscal year 2025. This represents a decrease of 90.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-38.9%

YoY+65.2pp

5Y CAGR+305.8pp

Sol Gel Tech's operating margin was -38.9% in fiscal year 2025, reflecting core business profitability. This is up 65.2 percentage points from the prior year.

Net Margin

-31.6%

YoY+60.1pp

5Y CAGR+302.3pp

Sol Gel Tech's net profit margin was -31.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 60.1 percentage points from the prior year.

Return on Equity

-26.9%

YoY+9.8pp

5Y CAGR+30.7pp

Sol Gel Tech's ROE was -26.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 9.8 percentage points from the prior year.

Capital Allocation

R&D Spending

$22.8M

YoY+28.1%

5Y CAGR-4.0%

10Y CAGR+12.2%

Sol Gel Tech invested $22.8M in research and development in fiscal year 2025. This represents an increase of 28.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$47K

YoY+2250.0%

5Y CAGR-36.3%

10Y CAGR-16.7%

Sol Gel Tech invested $47K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 2250.0% from the prior year.

SLGL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$19.4M+68.0%	$11.5M+642.5%	$1.6M-60.0%	$3.9M-87.6%	$31.3M+256.5%	$8.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$22.8M+28.1%	$17.8M-24.4%	$23.5M+85.6%	$12.7M-37.8%	$20.4M-27.0%	$27.9M
SG&A Expenses	$4.2M-27.4%	$5.7M-22.0%	$7.4M-1.0%	$7.4M-11.9%	$8.5M-23.8%	$11.1M
Operating Income	-$7.5M+37.3%	-$12.0M+59.0%	-$29.3M-80.4%	-$16.2M-648.0%	$3.0M+109.8%	-$30.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	N/A	$0	$0
Net Income	-$6.1M+42.1%	-$10.6M+61.2%	-$27.2M-82.5%	-$14.9M-563.3%	$3.2M+111.0%	-$29.3M
EPS (Diluted)	$-2.19	$-3.79+62.1%	$-10.01-1440.0%	$-0.65-564.3%	$0.14+110.8%	$-1.30

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$17.3M	N/A	$5.4M	N/A	$594K	N/A	$3.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$4.6M	N/A	$2.4M	N/A	$5.3M	N/A	$2.4M
SG&A Expenses	N/A	$1.4M	N/A	$1.4M	N/A	$1.8M	N/A	$1.6M
Operating Income	N/A	$11.2M	N/A	$1.6M	N/A	-$6.5M	N/A	-$463K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	$11.6M	N/A	$2.0M	N/A	-$6.0M	N/A	-$134K
EPS (Diluted)	N/A	$4.17	N/A	$0.71	N/A	$-0.22	N/A	$0.01

SLGL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$29.9M-16.5%	$35.8M-20.8%	$45.3M-2.9%	$46.6M-32.6%	$69.2M+17.0%	$59.2M
Current Assets	$27.0M-13.8%	$31.3M-24.0%	$41.2M-4.4%	$43.1M-24.6%	$57.1M+6.9%	$53.4M
Cash & Equivalents	$11.0M-43.4%	$19.5M+159.4%	$7.5M-39.6%	$12.4M-38.0%	$20.1M+182.0%	$7.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.0M-45.3%	$3.6M+853.6%	$377K+508.1%	$62K	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$7.1M+1.6%	$7.0M+5.3%	$6.6M+50.5%	$4.4M-67.5%	$13.6M+63.6%	$8.3M
Current Liabilities	$6.2M+16.8%	$5.3M+16.9%	$4.5M+35.8%	$3.3M-71.5%	$11.7M+96.0%	$6.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$22.8M-20.9%	$28.9M-25.3%	$38.6M-8.5%	$42.2M-24.1%	$55.6M+9.3%	$50.8M
Retained Earnings	-$237.0M-2.7%	-$230.9M-4.8%	-$220.3M-14.1%	-$193.1M-8.4%	-$178.1M+1.8%	-$181.4M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$29.9M-23.9%	$39.3M+9.7%	$35.8M-14.7%	$42.0M-7.2%	$45.3M-17.8%	$55.1M+18.2%	$46.6M-15.2%	$55.0M
Current Assets	$27.0M-25.6%	$36.3M+15.9%	$31.3M-18.3%	$38.3M-7.0%	$41.2M-20.2%	$51.6M+19.8%	$43.1M-11.2%	$48.5M
Cash & Equivalents	$11.0M+7.9%	$10.2M-47.6%	$19.5M+68.8%	$11.5M+53.7%	$7.5M-51.9%	$15.6M+25.5%	$12.4M+115.9%	$5.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.0M-80.4%	$10.0M+179.3%	$3.6M-40.7%	$6.1M+1507.2%	$377K	N/A	$62K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$7.1M-4.3%	$7.4M+6.1%	$7.0M-1.5%	$7.1M+6.9%	$6.6M-2.4%	$6.8M+54.2%	$4.4M-4.7%	$4.6M
Current Liabilities	$6.2M+24.5%	$5.0M-6.2%	$5.3M+1.6%	$5.2M+15.0%	$4.5M-20.2%	$5.7M+70.2%	$3.3M+3.2%	$3.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$22.8M-28.5%	$31.9M+10.5%	$28.9M-17.3%	$34.9M-9.7%	$38.6M-20.0%	$48.3M+14.4%	$42.2M-16.2%	$50.4M
Retained Earnings	-$237.0M-3.9%	-$228.1M+1.2%	-$230.9M-2.8%	-$224.7M-2.0%	-$220.3M-5.0%	-$209.8M-8.6%	-$193.1M+8.0%	-$209.8M

SLGL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$322K+102.3%	-$13.9M+21.7%	-$17.7M-86.9%	-$9.5M-23.3%	-$7.7M+69.5%	-$25.2M
Capital Expenditures	$47K+2250.0%	$2K-98.5%	$134K-21.6%	$171K+19.6%	$143K-68.2%	$449K
Free Cash Flow	$275K+102.0%	-$13.9M+22.2%	-$17.9M-85.0%	-$9.7M-23.2%	-$7.8M+69.5%	-$25.7M
Investing Cash Flow	-$8.6M-132.1%	$26.7M+374.0%	-$9.7M-673.4%	$1.7M-91.5%	$19.9M+837.6%	-$2.7M
Financing Cash Flow	$6K	$0-100.0%	$21.8M+145300.0%	$15K-98.2%	$837K-96.8%	$26.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SLGL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-38.9%+65.2pp	-104.1%+1781.7pp	-1885.8%-1467.4pp	-418.3%-427.8pp	9.5%+354.2pp	-344.7%
Net Margin	-31.6%+60.1pp	-91.7%+1661.1pp	-1752.8%-1368.5pp	-384.3%-394.6pp	10.3%+344.2pp	-333.9%
Return on Equity	-26.9%+9.8pp	-36.7%+33.8pp	-70.5%-35.1pp	-35.4%-41.1pp	5.8%+63.4pp	-57.6%
Return on Assets	-20.5%+9.0pp	-29.5%+30.6pp	-60.2%-28.2pp	-32.0%-36.7pp	4.7%+54.2pp	-49.5%
Current Ratio	4.37-1.6	5.92-3.2	9.10-3.8	12.93+8.0	4.88-4.1	8.95
Debt-to-Equity	0.31+0.1	0.24+0.1	0.17+0.1	0.10-0.1	0.24+0.1	0.16
FCF Margin	1.4%+121.8pp	-120.4%+1029.2pp	-1149.5%-900.9pp	-248.7%-223.6pp	-25.1%+267.8pp	-292.9%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	65.1%	N/A	29.9%	N/A	-1098.8%	N/A	-13.2%
Net Margin	N/A	67.3%	N/A	36.4%	N/A	-1005.0%	N/A	-3.8%
Return on Equity	N/A	36.4%	N/A	5.7%	N/A	-12.4%	N/A	-0.3%
Return on Assets	N/A	29.5%	N/A	4.7%	N/A	-10.8%	N/A	-0.2%
Current Ratio	4.37-2.9	7.32+1.4	5.92-1.4	7.36-1.7	9.100.0	9.10-3.8	12.93-2.1	15.03
Debt-to-Equity	0.31+0.1	0.230.0	0.24+0.0	0.20+0.0	0.17+0.0	0.14+0.0	0.10+0.0	0.09
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Sol Gel Tech's annual revenue?

Sol Gel Tech (SLGL) reported $19.4M in total revenue for fiscal year 2025. This represents a 68.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Sol Gel Tech's revenue growing?

Sol Gel Tech (SLGL) revenue grew by 68% year-over-year, from $11.5M to $19.4M in fiscal year 2025.

Is Sol Gel Tech profitable?

No, Sol Gel Tech (SLGL) reported a net income of -$6.1M in fiscal year 2025, with a net profit margin of -31.6%.

What is Sol Gel Tech's EBITDA?

Sol Gel Tech (SLGL) had EBITDA of -$7.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Sol Gel Tech's operating margin?

Sol Gel Tech (SLGL) had an operating margin of -38.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Sol Gel Tech's net profit margin?

Sol Gel Tech (SLGL) had a net profit margin of -31.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Sol Gel Tech's return on equity (ROE)?

Sol Gel Tech (SLGL) has a return on equity of -26.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Sol Gel Tech's free cash flow?

Sol Gel Tech (SLGL) generated $275K in free cash flow during fiscal year 2025. This represents a 102.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Sol Gel Tech's operating cash flow?

Sol Gel Tech (SLGL) generated $322K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Sol Gel Tech's total assets?

Sol Gel Tech (SLGL) had $29.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Sol Gel Tech's capital expenditures?

Sol Gel Tech (SLGL) invested $47K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Sol Gel Tech spend on research and development?

Sol Gel Tech (SLGL) invested $22.8M in research and development during fiscal year 2025.

How many shares does Sol Gel Tech have outstanding?

Sol Gel Tech (SLGL) had 3M shares outstanding as of fiscal year 2025.

What is Sol Gel Tech's current ratio?

Sol Gel Tech (SLGL) had a current ratio of 4.37 as of fiscal year 2025, which is generally considered healthy.

What is Sol Gel Tech's debt-to-equity ratio?

Sol Gel Tech (SLGL) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Sol Gel Tech's return on assets (ROA)?

Sol Gel Tech (SLGL) had a return on assets of -20.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Sol Gel Tech's Piotroski F-Score?

Sol Gel Tech (SLGL) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Sol Gel Tech's earnings high quality?

Sol Gel Tech (SLGL) has an earnings quality ratio of -0.05x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Sol Gel Tech?

Sol Gel Tech (SLGL) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.